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Gerald P. O'Driscoll Jr: Washington is quietly repudiating its debts
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Re: Gerald P. O'Driscoll Jr: Washington is quietly repudiating its debts
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Thinker102
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Aug 24 08 2:24 AM
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I would make the observation that if it becomes ...general public knowledge... that the Fed has lost all credibility, people will seek out alternatives that they deem more credible. The game requires a certain amount of belief to work.
Without credibility, the dollar basically tanks amidst hyperinflation. This can be beaten, but would likely take years.
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Gerald P. O'Driscoll Jr: Washington is quietly repudiating its debts
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